JAKARTA. PT Pradiksi Gunatama Tbk (PGUN), a plantation company publicly listed on Indonesia Stock Exchange (IDX) in 2020, recorded net profit of IDR 167 billion in 2022.

The net profit of PGUN in 2022 increased 433% year-on-year (yoy) compared to the same period last year, in which the company scored IDR 31 billion of net profit in 2021.

Tamlikho, Director of Finance of PGUN, claimed that the company’s profitability in 2022 was supported by increased production of fresh fruit bunches to 243,726 tons in 2022 from 197,779 tons in 2021. Then, the crude palm oil (CPO) production in 2022 hit 72,118 tons, increasing from 62,650 tons in 2021.

“Said net profit resulted from increased average selling price of CPO. In 2021, CPO’s average selling price is IDR 11,000 per kg, which soared to IDR 12,700 per kg in 2022,” Tamlikho mentioned in the official disclosure received by IDNFinancials.

In 2023, Tamlikho mentioned that PGUN wishes for another net profit surge. In order to attain this, PGUN has initiated operational cost efficiency and enhanced the capacity of fresh fruit bunches plant to 90 tons per hour, as well as increasing production. “This year, we expect to see significant surge,” he added. (KR/ZH)